Business Management
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Course Introduction

 

Core Standards of the Course

Strand 1
Students will identify and describe the planning function of management.

Standard 1
Explain what planning is and the importance of planning.

Standard 2
Explain the business decision-making process.

Standard 3
Distinguish between strategic (long-term) and operational (short-term) plans.

Standard 4
Identify planning tools used in project planning (e.g., budgets, schedules, policies, etc.).

Standard 5
Understanding the importance and purpose of the business plan for managerial success and capital resources.

Strand 2
Students will identify and describe the organizing function of management.

Standard 1
Identify and provide examples of basic ownership forms.

1. List the characteristics, advantages and disadvantages of a sole proprietorship, partnership, corporation, franchise, LLC, S-corporation.
   

Standard 2
Identify types of organization structures.

1. Distinguish between line, line and staff, matrix, and team.
   

Standard 3
Understand management structures.

1. Describe the advantages and disadvantages of centralized and decentralized.
   

Standard 4
Understand the legal aspects of starting a business.

Strand 3
Students will identify and describe the directing (leadership) function of management.

Standard 1
Identify leaders and effective leadership qualities.

Standard 2
Identify different leadership styles.

1. Compare and contrast autocratic, democratic, and laissez-faire.
   

Standard 3
Describe techniques managers use to motivate individual employees (e.g. goal setting, job advancement, cross-training, empowerment, and self-direction).

1. Study a business leader and prepare oral presentation or written essay.
   
2. Organize or participate in one of the following activities: Class presentation, collaborative activity, or school service activity.
   

Strand 4
Students will identify and describe the controlling functions of management.

Standard 1
Describe the importance of mission statement, vision statements, goals (long-term) and objectives (short-term).

Standard 2
Evaluate and determine alternative actions when goals are not being met. (e.g., changing goals, changing strategies).

Standard 3
Identify the major factors that are considered in operations management. (e.g., TQM, lean, just-in-time, supply chain, etc.)

Strand 5
Students will analyze and understand the importance of financial information.

Standard 1
Know basic financial terms

1. Define and identify assets, liabilities, owner's equity, revenue, expenses
   

Standard 2
Understand the purpose of Income Statements, Balance Sheets and Cash Flow Statements.

Standard 3
Analyze and interpret the data that appears on financial statements, for managerial decisions making. (e.g., ratio and breakeven analysis)

Standard 4
Identify sources for securing financing to start and operate a business.

1. List the characteristics of personal savings, bank financing, SBA loans, and venture capital.
   

Performance Objective
Analyze a financial statement.

1. Income Statement, Balance Sheet or Cash Flow Statements.
   

Strand 6
Students will understand basic economics concepts.

Standard 1
Understand economic terms (e.g. recession, depression, inflation, GDP, etc.).

Standard 2
Identify various types of economic systems.

Standard 3
Understand the factors involved in deciding to do business internationally and how global economies affect domestic businesses.

1. Analyze the impact of the global economy on business profitability.
   

Standard 4
Understand forces of supply and demand in the economy.

Standard 5
Identify various types of competition.

1. Compare and contrast monopoly, monopolistic competition, oligopoly, and pure competition.
   

Strand 7
Students will understand basic marketing concepts.

Standard 1
Identify and understand the four P's of the marketing mix

Standard 2
Identify the elements of product development.

Standard 3
Understand the use of pricing strategy.

Standard 4
Identify and understand distribution channels (place).

Standard 5
Recognize the different types of promotion.

Strand 8
Students will describe human resource management and its importance to the successful operation of an organization.

Standard 1
Understand management theories.

1. Compare and contrast Theories X, Y, and Z.
   
2. List the characteristics of Herzberg's Theory and Maslow's Hierarchy of Needs.
   

Standard 2
Understand management responsibilities of recruiting, hiring, training, appraising, and firing employees.

Standard 3
Identify employment arrangements (e.g., teams, flexible work schedules, job-sharing, telecommuting, etc.)

Standard 4
Understand compensation and benefits. (wages, salaries, insurance, and retirement benefits, etc.)

Performance Objective
Analyze human resource case study, current event, or example.

Strand 9
Students will understand and identify ethics and social responsibility as it relates to business.

Standard 1
Describe a business code of ethics.

Standard 2
Explain the overall nature of social responsibility (e.g. philanthropy, human rights violations, child labor, environmental impact, etc.).

Performance Objective
Analyze business ethics case study, current event, or example.

Strand 10
Students will understand legal aspects that regulate business.

Standard 1
Describe how labor legislations affects the workplace (e.g., drug testing, ADA, sexual harassment, right-to-privacy, FLSA, etc.)

Standard 2
Understand governmental agencies which regulate business practices.

1. Identify the agency and their purpose: OSHA, EEOC, and FTC
   

Strand 11
Students will be able to describe the role of information technology to conduct business effectively and efficiently in a modern world.

Standard 1
Describe how the Internet provides information to users.

Standard 2
Describe the basic technology infrasture used by businesses

Standard 3
Describe technology's impact on strategy.

Standard 4
Describe the impact of planning an online business.

Performance Objective

1. Locate information on an existing corporation. Include the following: mission statement, code of ethics (conduct), company history (story), current leadership, and current financial statements or create a business plan.
   
2. Organize or participate in one of the following activities:
   
   • Class presentation, collaborative activity, or school service activity.

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http://www.uen.org - in partnership with Utah State Board of Education (USBE) and Utah System of Higher Education (USHE).  Send questions or comments to USBE Specialist - Breckon Heywood and see the CTE/Business and Marketing Education website. For general questions about Utah's Core Standards contact the Director - THALEA LONGHURST.

These materials have been produced by and for the teachers of the State of Utah. Copies of these materials may be freely reproduced for teacher and classroom use. When distributing these materials, credit should be given to Utah State Board of Education. These materials may not be published, in whole or part, or in any other format, without the written permission of the Utah State Board of Education, 250 East 500 South, PO Box 144200, Salt Lake City, Utah 84114-4200.